Bombardier – Executing the Plan

Statement of Eric Martel, President and Chief Executive Officer, Bombardier

It is fantastic to celebrate Bombardier’s 80th anniversary with the performance, passion and pride we witnessed throughout 2022. All our strategic paths were successful, from our footprint expansion to the launch of Bombardier Defense, and unveiling of the Global 8000 aircraft, which sits atop the industry as the fastest and smoothest flying jet. Throughout the year, we accelerated our talent acquisition initiatives and grew our workforce by over 2,000 people, all the while exceeding our financial targets and significantly deleveraging our company.

The year began with Bombardier navigating a booming market as business jet demand and utilisation surpassed expectations. We remained focused on executing our plan and ensuring that the fundamentals of our business remained central to delivering strong margins and overall performance, no matter the market conditions. I am immensely impressed by the Bombardier team’s focus on execution, most notably on seizing opportunities to significantly grow our backlog and in turn ensure our predictability.

Our sights are firmly set on a future where Bombardier jets continue to lead their categories, our service network continues to grow and bring our jets home in more places around the world, governments increasingly seize the opportunities special-mission business jets bring, we continue to recruit and develop top talent, we deliver exceptional and predictable performance, and above all, lead the charge to a net zero business aviation industry and steward sustainability in all aspects of our operations(1). 2022 saw Bombardier significantly progress each of these elements with focus, energy and determination.

On the product side, the year began with the launch of the Global 8000 jet. When it enters service in 2025, this aircraft will be the fastest flying plane in business aviation with a maximum operating speed of Mach 0.94, or 94 per cent of the speed of sound. To unlock this, testing has begun, and we unveiled a mission in which our test vehicle

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CHAPTER 9